Page 1316 - Economy & Policy News
Scrappage policy to help in removing unfit vehicles from roads: PM Modi
The move, however, doesn't bring an immediate cheer to the pandemic-bruised auto industry
 "Scrappage policy to help in removing unfit vehicles from roads: PM Modi")
Kharif acreage almost at last year's level; monsoon to become active again
Monsoon to become active again after August 15
 "Kharif acreage almost at last year's level; monsoon to become active again")
Fare hike will prune airline losses but slow down traffic growth: experts
On Friday the govt hiked minimum and maximum fare slabs by 12.5%
 "Fare hike will prune airline losses but slow down traffic growth: experts")
AAR rules 18% GST on e-voucher traders, on plea by marketing services firm
Rules that e-vouchers are not an actionable claim, and are not exempt from GST. They attract 18% GST as they come under the residual category
 "AAR rules 18% GST on e-voucher traders, on plea by marketing services firm")
SC approves deduction of interest paid via debentures for tax calculation
In its order last week favouring MM Aqua Technologies, it held that explanation 3C to section 43B(d) of Income Tax Act is 'clarificatory' and does not add a new condition retrospectively
 "SC approves deduction of interest paid via debentures for tax calculation")
At $35 billion in July, India records highest-ever monthly exports
Outbound shipments grew by nearly 50 per cent over July 2020, which can be partly attributed to a favourable base
 "At $35 billion in July, India records highest-ever monthly exports")
Tamil Nadu budget: Fiscal deficit seen at 4.3% of GSDP; tax on petrol cut
State allocates Rs 32,560 cr for education; lines up medium term fiscal plan to tide over rising debt
 "Tamil Nadu budget: Fiscal deficit seen at 4.3% of GSDP; tax on petrol cut")
After Centre, NIAL Board approves Noida International Airport master plan
The master plan, which details the development of the proposed Noida International Airport, was approved by the Noida International Airport Limited on Friday, according to officials
 "After Centre, NIAL Board approves Noida International Airport master plan")
Top headlines: SpiceJet Q1 loss widens; exports jump nearly 50% in July
Business Standard brings you the top headlines this evening
 "Top headlines: SpiceJet Q1 loss widens; exports jump nearly 50% in July")
India and Russia discuss expanding cooperation in energy sector
India and Russia on Friday discussed expanding cooperation in the energy sector as New Delhi looks at newer sources of oil and natural gas to diversify its import basket
 "India and Russia discuss expanding cooperation in energy sector")
Govt notifies extension of RoSCTL scheme for textile exporters
The government on Friday notified RoSCTL scheme for textiles exporters and said duty credit scrips under this support measure would be issued without insisting on realisation of the export proceeds
 "Govt notifies extension of RoSCTL scheme for textile exporters")
TN will follow a 'data base, data centric' governance model: Official
The Tamil Nadu government would adopt and follow a "data base, data centric" governance and the projects announced would be 'farsighted', additional chief secretary S Krishnan said on Friday
 "TN will follow a 'data base, data centric' governance model: Official")
Over 5 million domestic air passengers in July, 61% higher than June: DGCA
While IndiGo carried 2.9 million passengers in July, a 58.6 per cent share of the domestic market, SpiceJet flew 456,000 passengers
 "Over 5 million domestic air passengers in July, 61% higher than June: DGCA")
QIP mechanism: Sebi makes e-book platform mandatory for NCDs portion
Markets regulator Sebi on Friday came out with guidelines for non-convertible debentures with warrants products, whereby it made electronic book platform mandatory for the NCDs portion of the issue
 "QIP mechanism: Sebi makes e-book platform mandatory for NCDs portion")
New vehicle scrappage policy to attract investments worth Rs 10,000 crore
Modi also said that a scrapping certificate would be issued for a vehicle, based on which there would be no registration fees required for the new vehicle purchase as part of the policy.
 "New vehicle scrappage policy to attract investments worth Rs 10,000 crore")
Exports rise nearly 50% in July to $35.43 bn; trade deficit at $10.97 bn
Exports surged 49.85 per cent to $35.43 bn in July on account of healthy growth in petroleum, engineering, and gems and jewellery segments, even as trade deficit widened to $10.97 bn during the month
 "Exports rise nearly 50% in July to $35.43 bn; trade deficit at $10.97 bn")
20 states carrying forward Rs 2.6 trn of debt-money into FY22: Report
Most states are likely to be in better fiscal health this financial year as 20 of them are collectively carrying forward Rs 2.6 lakh crore borrowed in FY21 to this fiscal, says a report.
 "20 states carrying forward Rs 2.6 trn of debt-money into FY22: Report")
Centre notifies amended rules for single-use plastic items
The thickness of plastic carry bags will be increased from 50 microns to 75 microns from September 30, 2021, and to 120 microns from December 31, 2022
 "Centre notifies amended rules for single-use plastic items")
Central Board of Reserve Bank of India reviews current economic situation
The Central Board of RBI on Friday reviewed the current economic situation and the recent policy measures taken by the Reserve Bank to mitigate the adverse impact of COVID-19
 "Central Board of Reserve Bank of India reviews current economic situation")
Tamil Nadu slashes petrol price by Rs 3, move to cause loss of Rs 1,160 cr
Tamil Nadu Finance Minister Palanivel Thiaga Rajan, presenting his maiden budget to the Assembly on Friday said the government has decided to cut tax on petrol by Rs three per litre
 "Tamil Nadu slashes petrol price by Rs 3, move to cause loss of Rs 1,160 cr")